The USD/CNY mid point is set each business day by the PBOC. USD/CNY is then permitted to trade plus or minus 2% from this reference rate. In open money market operations, the bank injects 125bn yuan via 7-day reverse repos - On Friday the CNY was set at 94.72 against its currency basket, a drop of 0.62 from the previous Friday's 95.34 value. (Read the full story)
